Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[DieJohnny]

I love P2P pool, yes that is a great plan, but manufacturers are too greedy and want all of the profits. However, we should be DDOS every large miner constantly making it hell to scale as one entity. Make the cost of doing business as a large miner not worth it.... better to sell your miners to people and try and make money that way.

Encouraging a more combative environment instead of a collaborative environment can lead to potential consequences. I>E> Right now bitfury has indicted they are going to sell their new chips to the widest group of people to insure decentralization, similarly some chinese mines will lease hashing power to their competitors in solidarity without profit if there is a power outage.

Encouraging DDOS attacks will break these bonds of solidarity that lead to greater security.

There are other incentives that naturally promote decentralization that we can focus on -

1) The costs to secure a large mining farm are much more than 10k routers with mining chips in many homes. One requires no extra security, and the other is a target

2) Centralized mining farms have to deal with excessive heat which requires cooling and elaborate ventilation costs while thousands of individuals with small miners can recycle the heat and not worry about excessive heat

3) The liability of fire and damage from failed cooling systems is large with a mining farm , vs almost no liability for millions of small utility miners

ect...

solidarity? what planet are you living on.... this is wild west, war zone, chaos rule, dystopia we are in and will be in for ever.

[fisheater22]

Oy vey! There go my shekels

[BitUsher]

solidarity? what planet are you living on.... this is wild west, war zone, chaos rule, dystopia we are in and will be in for ever.

Solidarity exists within the "wildwest" as we are speaking about humans with complex incentives and needs. Solidarity is a form of selfishness practiced by rational actors(and yes, humans can sometimes be reasonable)

[becoin]

Consensus is forming, brace yourselves

The 21 million cap should also be raised. It is an obstacle for bitcoin growth and adoption. People have no incentive to own bitcoins if they can't  afford to easily purchase at least 1 bitcoin. This is why this cap should be removed. First double it then quadruple and then "classic" unlimited bitcoin will be the final solution.

[marcus_of_augustus]

Cryptsy dying a slow and painful death

http://www.coindesk.com/digital-currency-exchange/

There's something very "controlled demolition" about all of this. Paul Vernon was in army intelligence after all.

Paul Vernon had at least one contact in the Secret Service intelligence community. That Coindesk story says Cryptsy had a relationship with the former Secret Service agent Shaun Bridges who was sent to prison for money laundering. It will be interesting finding out what the relationship was.

The post also claimed that the company had a prior relationship with former Secret Service Agent Shaun Bridges tied to "an unrelated matter". Bridges was sentenced to five years and eleven months in federal prison in December following his conviction on obstruction of justice and money laundering charges.

so Cryptsy is operation linked to intelligence services has substantial funds "stolen", possible inside job, that are dumped on the market the same day 'limited hang-out' huckster hearn is posting FUD hit piece articles (in NYTimes) coordinated with his new employers bankster consortium R3 testifying to Washington??

sounds legit, legit spook tactics.

[DieJohnny]

Consensus is forming, brace yourselves

The 21 million cap should also be raised. It is an obstacle for bitcoin growth and adoption. People have no incentive to own bitcoins if they can't  afford to easily purchase at least 1 bitcoin. This is why this cap should be removed. First double it then quadruple and then "classic" unlimited bitcoin will be the final solution.

WTF is this about.... you are insane.... we just need to numerate transactions by a uBTC.... get real

[jackiedragon]

China is waking up...
and crashing down

http://bitcoinity.org/markets/btcchina/CNY

[Tzupy]

With the latest dumps, daily MACD crossed to negative on all exchanges, including mainland Chinese ones.

[rolling]

Better dump everything now. This is going to negative digits!

[JorgeStolfi]

Hey, what is happening?  Back below $380?

I thought that bitcoin was a honey badger in a titanium armor, protected by patahashes of math and a bajillion moogawatts of electric juice. 

But then a single whiny blog post, by a young loner who had already left the stage, brings the price down by 20% in a few hours? 

How is that?

[/troll]

[DieJohnny]

solidarity? what planet are you living on.... this is wild west, war zone, chaos rule, dystopia we are in and will be in for ever.

Solidarity exists within the "wildwest" as we are speaking about humans with complex incentives and needs. Solidarity is a form of selfishness practiced by rational actors(and yes, humans can sometimes be reasonable)

This ecosystem is so complex and constantly evolving that there is no consensus on rationality.

I have far less faith in humans than you do I am afraid.

[DieJohnny]

Hey, what is happening?  Back below $380?

I thought that bitcoin was a honey badger in a titanium armor, protected by patahashes of math and a bajillion moogawatts of electric juice. 

But then a single whiny blog post, by a young loner who had already left the stage, brings the price down by 20% in a few hours? 

How is that?

[/troll]

I think there is so much truth found in this drop.... the true bottom for bitcoin is where remittance utility and payment utility create an equilibrium on the exchanges..... My guess is that true bitcoin utility is 10% of where we are today.... the rest all FUD, and PUMP, and DUMP

[8up]

RIP bulls.

$380 next - rally in february

target reached.

[BitUsher]

Bear whales taking advantage of negative news to juke the markets in an attempt to steal from weak hands. Don't fall for it and penalize their insolence by taking their coins.

This ecosystem is so complex and constantly evolving that there is no consensus on rationality.

I have far less faith in humans than you do I am afraid.

No faith is necessary, as the complexity you cite is what gives birth to moments of solidarity.

[Patel]

I am predicting a drop to 350 ish fairly soon... then moon within the next 6 months.

Bingo xD

[jackiedragon]

Hey, what is happening?  Back below $380?

I thought that bitcoin was a honey badger in a titanium armor, protected by patahashes of math and a bajillion moogawatts of electric juice. 

But then a single whiny blog post, by a young loner who had already left the stage, brings the price down by 20% in a few hours? 

How is that?

[/troll]

I think there is so much truth found in this drop.... the true bottom for bitcoin is where remittance utility and payment utility create an equilibrium on the exchanges..... My guess is that true bitcoin utility is 10% of where we are today.... the rest all FUD, and PUMP, and DUMP

No No i don´t think its all FUD n Pum n Dump
https://www.youtube.com/watch?v=1w_XuOBnUAg

[rolling]

Ok, new proposal on block size. 1mb max limit for transactions with no or micro-fee attached. No block size limit for transactions with a fee attached that is at least 90% of the average fee over the last 1440 blocks. Now go make it happen and stop dumping.

[Richy_T]

I thought that bitcoin was a honey badger

That's exactly the point

[Fatman3001]

Ow, ow, ow! It hurts in my digital wallet!

[sAt0sHiFanClub]

Bear whales taking advantage of negative news to juke the markets in an attempt to steal from weak hands. Don't fall for it and penalize their insolence by taking their coins.

Oh. Good. God.